Iowa State University calculations estimate the typical Iowa hog sold during April was marketed at a loss of $9.62 per head. For the first four months of 2012, the average hog was sold at a loss of $1.99. Shane Ellis’ calculations put the cost of production in April at $64.58 per cwt. of live weight, the highest since December and the highest ever for April.

This week’s news for the U.S. economy was not good. On Thursday, the government. On Friday, June 1, they said the unemployment rate increased to 8.2 percent in May from 8.1 percent in April. The economy added only 69,000 new jobs in May, the fewest in a year.

USDA says 72 percent of the corn crop was in good or excellent condition on May 27. That compares to 77 percent the week before and 63 percent a year ago. The Crop Progress report says 89 percent of the soybean crop was planted by May 27 compared to an average of only 61 percent on that date. July corn futures ended the week at $5.515 per bushels, down 27 cents from the previous Friday. December corn settled at $5.10 per bushels, down 12 cents for the week.

The national average negotiated carcass price for direct delivered hogs on the morning report today was $81.36 per cwt., up $1.26 from last Friday. The Eastern Corn Belt averaged $81.53 per cwt. this morning. Iowa-Minnesota averaged $80.46 per cwt. The Western Corn Belt had an average of $80.50 on the morning report. Both Peoria, Ill., and Zumbrota, Minn., had a top today of $56 per cwt., of live weight. The top for interior Missouri live hogs Friday, June 1 was $58.50 per cwt., down $2.25 from the previous Friday.

USDA’s Thursday afternoon calculated cutout value was $81.95 per cwt., up $3.75 from the previous Thursday, but $6.52 lower than on this date last year. Loins, butts, bellies and hams were all higher this week. The negotiated hog carcass price this morning is 99.3 percent of the pork cutout value.

Hog slaughter totaled 1.822 million head this week, down 11.9 percent from the week before (due to the Memorial Day holiday on Monday), but up 4.5 percent compared to the same week last year. Barrow and gilt carcass weights for the week ending May 19 averaged 205 pounds, down one pound from the week before, but up two pounds from a year ago. The average barrow and gilt live weight in Iowa-Minnesota last week was 274.3 pounds, down 1.8 pounds from a week earlier, up 4.4 pounds from a year ago, and above a year earlier for the 27th consecutive week. Year-to-date, pork production is up 2.2 percent.

Friday’s close for the June lean hog futures contract was $90.72 per cwt., up $5.52 from the previous Friday. The July hog futures contract settled at $91.52 per cwt., up $4.95 for the week. August ended the week at $91.30.

The views and opinions expressed in this column are those of the author and not necessarily those of Farm World. Readers with questions or comments for Ron Plain may write to him in care of this publication.